The contest to replace British Prime Minister Boris Johnson gathered pace on Sunday as five more candidates declared their intention to run, with many pledging lower taxes and a clean start from Johnson's scandal-ridden premiership.
Johnson on Thursday said he would resign as prime minister, after lawmakers and cabinet colleagues rebelled over his handling of a series of scandals, including breaches of lockdown rules in gatherings at his Downing Street office.Register now for FREE unlimited access to Reuters.comA member of a Conservative party committee which sets the rules for leadership elections said on Sunday the final result would be announced in September.
The Conservative Party's 1922 Committee of legislators, which sets rules for the party in parliament, will set out the exact timetable after a meeting on Monday. "I believe in a lower tax, lower regulation, cut-the-red-tape economy," Shapps told Sky News, adding he would hold an emergency budget to bring forward a one pence reduction in the income tax rate which is currently planned in 2024, freeze a planned rise in corporation tax and look to reduce the size of the civil service.
Hunt said that no Conservative should either raise taxes or offer unfunded tax cuts. Asked if cutting taxes would lead to inflation, Hunt said: "I don't agree with that when it comes to business taxes."